Nikhil Kaitwade, Research Head- Industrial Goods Domain at Fact.MR discusses vital aspects determining growth of automotive lifts market.
Currently, the global automotive industry demonstrates a robust high volume growth in sales of vehicles, and this growth is likely to double in the forthcoming decades. This unprecedented growth has hard-pressed OEMs to oversee storage and maintenance aspects of their offerings, to make their products sales-ready. The flourishing growth of automotive industry has posed significant challenges for automakers, vendors, and garages apropos of their limited work places, necessitating deployment of automotive lifts.
The eminence of automotive lifts will continue to grow in parallel with the rising number of garages being set up, making it a viable investment to boost shop safety and combat space issues. Some of the widely renowned lifts used across multiple industry verticals, such as knuckle lifts, in-ground lifts, mobile column lifts, and many more.
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Q. How is the growing need of space optimization enhancing appeal of automotive lifts?
Automotive lifts have become an indispensable necessity in case of garages, car showroom, car storage areas, fast lube stations, and so on. This surging demand can be accredited to rising need of space optimization, which remains a key consideration across the shop floor. Automotive lifts make the process of hoisting larger vehicles a lot easier, which is enhancing their visibility in the automotive space. With respect to OEMs, manufacturing vast units of automobiles seek greater utility of automotive lifts, taking into consideration the confined and limited workplaces of manufacturing plants.
Q. What are some of the key attributes influencing purchase patterns in the automotive lifts space?
Durability remains an aspect holding utmost importance among end users of automotive lifts. High productivity coupled with maximized up-time remain one of the key uncompromisable characteristics looked for by end users while making purchases. Top-notch craftsmanship and feature rich designs are further likely to add to the overall product appeal. Last but not the least, versatility remains the game changer. The growth of volume sales of automotive lifts is completely reliable on the versatility offered, which further adds to the overall product value.
Q. What influences will the advent of hybrid/EV vehicles exert in the manufacturing framework of automotive lifts?
The maintenance of hybrid and EV vehicles will be completely different from that of the conventional vehicles i.e. the maintaining costs will be unreasonable and can be highly expensive. In case of hybrids and EVs, owners have to take them to into dealerships for repair, which would be relatively steep. However, mass production of such cars and parts in humungous volumes handled by multiple auto shops can create the scenario for reasonable expenses.
In similar lines, manufacturers are vying to develop future-proof auto lifts, wherein the lift should be capable of accommodating unique undercarriages of the debutants hybrid/EV vehicles.
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